The 31-year old’s contract is set to expire this summer, and with Chelsea reportedly not intending to offer a new deal, the player has begun talks over a move.

Former England international Cole would be available on a free transfer, and so is keen for one last big payday with a top European club.

Despite Chelsea not being willing to extend the player’s contract, there remains a host of top European clubs interested in sealing the player’s signature.

While Cole has opened talks with Madrid, they are likely to face competition from the likes of Barcelona, PSG and Manchester United for the left-back.

Many Chelsea fans are unhappy with the club for failing to secure the services of Cole, and his England international colleague Frank Lampard, on longer deals.

While both players are the wrong side of 30, they are still widely considered to be up there with the best in their respective positions.

Both Cole and Lampard were present during the successful Mourinho-era and have been firm fan favourites for many years.

While fans of the Blues understand the need for fresh blood in the Chelsea squad, they’re unhappy that two distinguished players are apparently being discarded while they could still offer something to the club.

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